GE Vernova Inc. $GEV Shares Acquired by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its holdings in GE Vernova Inc. by 16.6% in Q2, owning a total of 5,546 shares valued at approximately $2.93 million.
• GE Vernova's latest earnings report showed $1.86 earnings per share, exceeding estimates, with a revenue of $9.11 billion, reflecting an 11.1% year-over-year growth.
• The company announced a quarterly dividend of $0.25, payable on November 17, with a current annualized dividend yield of 0.2% and a payout ratio of 24.10%.

Ritholtz Wealth Management lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 16.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,546 shares of the company's stock after buying an additional 789 shares during the period. Ritholtz Wealth Management's holdings in GE Vernova were worth $2,935,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GEV. Sachetta LLC lifted its position in GE Vernova by 10.7% in the second quarter. Sachetta LLC now owns 165 shares of the company's stock valued at $87,000 after purchasing an additional 16 shares during the period. Highline Wealth Partners LLC lifted its position in shares of GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after acquiring an additional 18 shares during the period. Atlas Brown Inc. lifted its position in shares of GE Vernova by 0.8% during the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after acquiring an additional 19 shares during the period. Physician Wealth Advisors Inc. lifted its position in shares of GE Vernova by 9.0% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after acquiring an additional 20 shares during the period. Finally, West Branch Capital LLC lifted its position in shares of GE Vernova by 25.6% during the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after acquiring an additional 20 shares during the period.

GE Vernova Price Performance

Shares of GEV stock opened at $617.78 on Thursday. The company's fifty day moving average price is $618.29 and its two-hundred day moving average price is $515.27. The firm has a market capitalization of $168.17 billion, a P/E ratio of 148.86, a P/E/G ratio of 4.67 and a beta of 1.72. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GEV. UBS Group began coverage on shares of GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 price target for the company. Weiss Ratings reissued a "hold (c)" rating on shares of GE Vernova in a research note on Wednesday, October 8th. BMO Capital Markets lifted their target price on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Bank of America lifted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Robert W. Baird lifted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $592.07.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.

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